Overview India’s bioeconomy crossed the $150 billion mark in 2023, two years ahead of the target set in the National Biotech Development Strategy 2021 . By the end of 2024 the sector grew to $165.7 billion . The Department of Biotechnology (DBT) together with its public‑sector arm, the Biotechnology Industry Research Assistance Council (BIRAC) , has rolled out a suite of measures to sustain this momentum. Key Developments (2025‑26) Establishment of 94 bio‑incubators (BioNEST & E‑YUVA) across 25 states and UTs to nurture early‑stage innovations. Funding support ranging from ₹50 lakhs to ₹10.5 crore per startup through schemes such as i4 and PACE . Launch of the BioE3 Policy to boost biomanufacturing across eight verticals. Implementation of the ₹10,000 crore Biopharma SHAKTI scheme (2025‑30) by the Department of Pharmaceuticals to upgrade the domestic biopharma ecosystem. Operationalisation of the National Biopharma Mission , which funded products like ZyCoV‑D vaccine and indigenous MRI scanners. Creation of the Make in India Facilitation Cell (PMU) to track sectoral progress. NITI Aayog’s study on “Ease of Doing Research” highlighting bottlenecks in funding, talent, and technology transfer. Important Facts Bioeconomy valuation: $150 bn (2023) → $165.7 bn (2024) . 94 bio‑incubators host over 500 startups, primarily in healthcare. NBM has supported the development of indigenous vaccines, diagnostics, therapeutics (e.g., Liraglutide, Pegylated Interferon) and equipment (MRI, OmniBRx bioreactor). Biopharma SHAKTI aims to create 10,000 jobs and increase pharma exports by 30% by 2030. CSIR and DSIR‑PRISM schemes complement BIRAC efforts by providing skill‑development, incubation and industry‑academia networking. UPSC Relevance Understanding these initiatives is crucial for GS III (Economy & Industry) as they illustrate how the Government leverages public‑private partnerships, targeted funding, and policy reforms to build a strategic sector. Questions may focus on (i) the role of biotech in achieving self‑reliance (Atmanirbhar Bharat), (ii) impact on export earnings and employment, and (iii) challenges in R&D ecosystem identified by NITI Aayog. Way Forward Strengthen inter‑state coordination to ensure equitable access to bio‑incubators. Scale up venture‑capital participation by offering co‑investment models under BioE3. Address talent gaps through dedicated biotech curricula and scholarships, as recommended by NITI Aayog. Enhance regulatory fast‑track pathways for clinical trials to reduce time‑to‑market. Monitor export performance and carbon‑footprint of biomanufacturing to align with sustainable development goals.